The $ Value of Networking

It languished in relative obscurity until the Boston Globe covered a study that identified the dollar value of networking. Studying executives who purchase and sell their company’s shares, University of Michigan professors found that men and women don’t benefit equally from the trades. Although all executives made money, men made more. And the finance professors who conducted the study attribute the differences to this: “men seem to have better access to inside information – a leg up on networking with the other (mostly male) executives.” (e.a.)

If this isn’t enough to get you focused on your strategic relationships, in this time of economic turmoil here’s another reason to continue to invest in your network. As I’ve reported in Leading Women newsletters – after a job loss, women at senior levels have a harder time getting re-employed than men. The reason? A less robust safety net of strategic relationships.

It’s common in challenging times for people (and organizations) to contract, but as Kathleen Hittner, CEO of The Miriam Hospital has said, “You can’t shrink your way to greatness.”

Today, more than ever, it’s important to find ways to extend yourself in ways that make sense – and one of these is extending your strategic relationships.

Network ON!
By Susan Colantuono